Mega integrated aluminium project to generate over 53,500 jobs as Odisha strengthens its industrial growth agenda under the ‘Samruddha Odisha 2036’ vision.
Bhubaneswar: In a major boost to Odisha’s industrial ambitions, the State Government on Thursday signed a Memorandum of Understanding (MoU) with the UAE-based International Holding Company (IHC) Group for setting up a mega integrated aluminium project involving an investment of approximately ₹1.10 lakh crore.
The MoU, signed between the Industrial Promotion and Investment Corporation of Odisha (IPICOL) and the IHC Group at Lok Seva Bhawan in Bhubaneswar, is expected to attract an investment of around USD 11.5 billion and create more than 53,500 direct and indirect employment opportunities in the state.
Chief Minister Mohan Charan Majhi, who attended the signing ceremony, described the agreement as a historic milestone in Odisha’s industrial journey and said it would significantly contribute to the State Government’s vision of building a prosperous, modern, inclusive and industrially advanced Odisha by 2036.
He said the project would combine Odisha’s abundant natural resources and skilled workforce with the capital and technological expertise of the Middle East, paving the way for a long-term strategic partnership.
The proposed project will include bauxite mining, alumina refining, aluminium smelting, a captive power plant, downstream aluminium manufacturing facilities and supporting infrastructure.
According to the Chief Minister, the project is expected to generate around 35,000 jobs during the construction phase and another 18,500 employment opportunities after it becomes operational, taking the total employment potential to over 53,500.
Majhi said the government’s priority is to promote value addition to Odisha’s mineral resources instead of merely exporting raw materials, while creating sustainable employment opportunities for the state’s youth.
Highlighting the global shift towards environmentally sustainable industrialisation, he said the project would strengthen Odisha’s efforts to emerge as a leader in green metals and environmentally responsible manufacturing.
The Chief Minister also said the State Government remains committed to achieving the goals of “Samruddha Odisha 2036” and “Viksit Bharat 2047”. He added that Odisha aims to emerge as a leading industrial destination by 2036, coinciding with the centenary year of the state’s formation.
Beyond the aluminium project, Majhi said Odisha would also explore collaboration with the IHC Group in emerging sectors such as research and development, metallurgy, digital systems and Global Capability Centres (GCCs). He assured the company of timely support for land, water, power, logistics and statutory approvals required for the project.
Peter Abraham, Chief Strategic Officer of the IHC Group, said the agreement would open a new chapter in India-UAE relations and represents a long-term partnership for Odisha’s sustainable development rather than just a business investment. He said the collaboration could expand into technology, infrastructure, financial services and consumer services in the future.
Adani Ports and SEZ Ltd Managing Director Karan Adani also addressed the gathering and highlighted Odisha’s rich mineral resources and industrial potential. He said the state’s vast bauxite reserves and iron ore resources, coupled with the government’s industrial policies, have transformed Odisha from a supplier of raw materials into a value-added manufacturing hub.
The event was attended by Industries Minister Sampad Chandra Swain, Chief Secretary Anu Garg, senior executives of the IHC Group, officials of the Odisha Government, industry leaders and representatives of the media.
